HB885

Establishes a discounts for risk mitigation program for condominium associations in Hawaii.

The bill establishes a discounts for risk mitigation program for condominium associations in Hawaii. Under this program, property insurers must offer discounts on annual insurance premiums if the association makes certain upgrades or takes specific actions to reduce the association's risk profile. These actions include clearing vegetation, using noncombustible materials, creating defensible spaces, and installing fire-resistant features. The insurance commissioner will administer the program and adopt necessary rules.